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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in the percentage of cancellations and delays witnessed. According to a recent report from shipbroker Intermodal, "at the same time for 2012 we have already seen around 53 vessels being delivered so far, while another 437 are scheduled for delivery till the end of the year. This is the majority of the current orderbook accounting for just over 72 percent of its total.
With the overcapacity issue having already made its presence felt in the first two months of 2012, it is anticipated that the percentage of orders being delayed or cancelled is likely to accelerate this year, greatly outpacing what was seen in 2011. However even taking a modest approach, whereby expecting an equal rate of cancellations and delays as last year, at least 140 of the vessels scheduled for delivery for 2012, are unlikely to have entered the water by the end of the year.
"Simultaneously, there has been a growing interest in the new Ultramax designs, were we have already seen 9 vessels delivered in 2010, 20 in 2011 and another 4 this year so far. With many owners now unwilling to further add to the growing overcapacity problem, new orders this year have mainly focused on designs that offer any cost advantage when compared to the already in service fleet. These new Ultramax designs have offered much improvement in fuel efficiency while adding further cargo capacity when compared to the typical supramax designs" said Intermodal’s George Dimitriadis.
He concluded by mentioning that “few owners however, seem convinced of the benefits they will bring and even more that they will not be much better off than the rest of the fleet in period of poor freight market conditions. The truth is that, parcel sizes are unlikely to change that soon to accommodate the larger carrying capacity, while on the fuel efficiency part it seems as though the difference in consumption is relatively small, while with the ever increasing bunker prices, we are likely to see newer designs offering much higher fuel economy” said Dimitriadis.
In a separate report from Intermodal, George Eliades examined the latest data from China. He said that “with recent estimates putting Chinese growth below the levels originally hoped for, the shipping markets have started to feel the strain. Having said that growth levels are still more bullish then what has been witnessed lately in the commodities market, while the China’s economic policy priority has remained to maintain relatively fast growth. The question that has arisen these past months is as to what extent Beijing is willing to guard against inflation risks in favour of measure to push for faster growth.
China’s reforms to rebalance its economy have gone way beyond the housing sector and will continue to be targeted towards achieving relatively fast growth and stable prices that should help total trade maintain double digit growth this year, according to a recent speech given by Vice Premier Li Keqiang. "We will make policies more targeted, flexible and forward-looking to maintain relatively fast economic growth and keep price levels basically stable," he said in a speech at an economic policy conference. Li said that there were some encouraging signs emerging about the pace of global economic recovery, and forecast that China's total trade would top $10 trillion in the five years 2011-2015, but added that the outlook was not certain, with efforts to resolve Europe's debt crisis still evolving.
How does this translate for the shipping sector? “Well fears of a slowdown in China’s growth coupled with the poor performance of the US and European economies has already been well reflected in the dry commodities trade. Overall it has proven to be a slow start to the year. At the same time one must take into consideration that the market has fared considerably well if one takes into account the fact that we are undergoing a considerable increase in the number of vessels, while the intense stockpiling that went on before the start of the New year has led to a below average demand for cargoes in the first quarter. Having said that, with China’s policies now directly set to boost its trade growth, America showing signs of a slow but steady recovery and Europe looking to have smoothed out most of its major sovereign debt problems, dry bulk trade could start to pick up once again over the next quarter and although the oversupply issue continues, a more positive outlook maybe in the works after all” concluded Eliades.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
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